Thanks to the jump in oil, the Italian stock market is on positive ground. The index Ftse Eb scores +0,02% around 22.400 points, slightly preceded by Frankfurt (+0,04%). Little moves too Paris e London with fractional discounts. The most significant decline concerns once again Madrid, grappling with the serious institutional crisis in Catalonia.
Consultations continue in Germany Angela Merkel for the formation of a government: the liberals, who could get the post of finance minister, are much more hostile than Wolfgang Scahueble to an agreement with Greece.
Traders look to number one in the Fed, Janet Yellen, who could give some information on the next rate moves today in the Italian late afternoon when she will speak on inflation and monetary policy in a speech in Ohio.
On the M&A front, Siemens, which may announce a multibillion-dollar merger today with Alstom, is flat and so is the French company. Meanwhile, slow down Fincantieri (-0,80%) on the eve of the possible favorable agreement on Stx in tomorrow's bilateral in Lyon between Emmanuel Macron and Paolo Gentiloni.
In the main list it shines Leonardo (+1,43%) possible Italian partner of the naval defense hub: Alessandro Profumo said he hopes to exceed the 3-5% revenue growth target in the long term. With Brent up 3,8% to $59 a barrel, the spotlight is on sector stocks: Eni + 0,6% Saipem + 0,9% Tenaris + 0,4%.
Sul crude the Turkish premier's threats to block exports from the Kurdistan era after the elections for the independence of the area weigh heavily. Also in great evidence are the luxury titles: Yoox gains 2,4%, thanks to the HSBC report which announced the start of coverage with a Buy recommendation.
Also shop on Ferragamo (+2,5%), supported by Deutsche Bank. Outstanding among the banks is Banco Bpm (+1,2%). Telecom Italia rises by 0,5% on the day when the government should decide whether to apply the Golden Power rules.
StM loses 0,7%, influenced by yesterday's drop in Tech stocks on the Nasdaq. Fiat Chrysler +0,1%. In mechanics it collapses Carraro (-5,15%) during the presentation of the business plan.
